Lentra’s Operational Streamlining: Impact of Recent Layoffs, 2024
Pune-based fintech SaaS startup Lentra recently undertook a major restructuring process, resulting in layoffs across various departments. The decision was aimed at optimizing operations and adapting to changing market dynamics. According to sources, the number of employees impacted by this restructuring could be as high as 70-80, although this figure remains unverified.
Background
In June of last year, Lentra secured $27 million (approximately INR 223 crore) in its extended Series B funding round. The funding was led by MUFG Bank and Dharana Capital, positioning Lentra as a promising player in the finance SaaS industry.
The Restructuring at Lentra
Cofounder and President Ankur Handa attributed the layoffs to the startup’s commitment to streamlining operations. A...